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anonymous
 one year ago
What would be the formula for "Find the average daily balance, including new purchases."? (there is a picture for this question and I'd include it but, I don't know how yet)
anonymous
 one year ago
What would be the formula for "Find the average daily balance, including new purchases."? (there is a picture for this question and I'd include it but, I don't know how yet)

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jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1You can attach files by clicking "attach file" under the text box

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1Or you can host the pic on a site like imgur or something, then give the link

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0(took me a second to see what you were talking about, I literally just joined the site) thanks!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0I'm just not sure which numbers to add and which ones to subtract...

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1ok so what the average daily balance does is find the balance for the whole month, as if it were a snapshot. The balance changes quite a bit, but the credit card company only charges interest on one figure: the average daily balance

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1what we do is multiply the number of days with the balance for that time period eg: 675*5 = 3,375 1085*1 = 1085 1085*9 = 9,765 etc etc

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1then you add all of those products up and then divide by 31 (the total number of days in the month)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0ok, thank you!!!! :)

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1tell me what you get

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1I'm getting the same

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0thank you thank you thank you!! :D

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1so this is the balance that the CC company will use to figure out the finance (ie interest) charge

jim_thompson5910
 one year ago
Best ResponseYou've already chosen the best response.1you're welcome
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